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Ethereum price traded to a multi-month high near $322.00 before correcting lower. ETH price found support near $292.00 and it is now trading with a positive bias above $300.00.

  • Ethereum price is currently consolidating gains above the key $300.00 support area.
  • ETH/USD traded below two connecting bullish trend lines with support at $312.00 on the 30-minute chart.
  • The price is currently trading with a positive bias and it could continue higher towards $320.00.

Ethereum Price

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Ethereum Price Analysis (ETH to USD)

This past, bitcoin and Ethereum rallied significantly and traded to new 2019 highs. ETH price even broke the $300.00 level and even spiked above the $320.00 level. A new 2019 high was formed at $322.37 before the price started a downside correction.

Ethereum Price Analysis (ETH to USD) Chart

Click to Enlarge Chart

Looking at the 30-minute chart of ETH/USD, the pair declined sharply after it broke the $315.00 support and the 25 simple moving average (30-min). Sellers even pushed the price below the $300.00 handle.

During the decline, the pair traded below two connecting bullish trend lines with support at $312.00 on the same chart. It traded as low as $292.34 and it is currently recovering nicely.


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It traded above the $300.00 pivot level and the 23.6% Fib retracement level of the recent drop from the $322.37 high to $292.34 low. It is now approaching the $310.00 resistance and the 25 simple moving average (30-min).

If the price settles above $310.00, the 25 simple moving average (30-min), and the 50% Fib retracement level of the recent drop from the $322.37 high to $292.34 low, then there could be more gains.

The next resistance is near the $320.00 level, above which the bulls might aim a new 2019 high in the coming sessions.

On the downside, there are many supports near the $302.00 and $300.00 levels. If there is a daily close below the $300.00 handle, Ethereum price might extend its recent downside correction. The next key support is near $290.00 and $290.00, below which ETH to USD could start a bearish wave to test the $270.00 support area.

The market data is provided by TradingView, Bitfinex.


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Posted by Dr. Latika Mehrotra

Ph.D in Data Mining, Blockchain enthusiast, and passionate about technology and science. Professor by profession and loves writing interesting articles about Cryptocurrencies, bitcoin, Ethereum, ripple, Forex and commodities.


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